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~person:"Pistaferri, Luigi"
~person:"Müller, Gernot J."
~subject:"Fiscal policy"
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Fiscal policy
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Pistaferri, Luigi
Müller, Gernot J.
Afonso, António
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1
What Accounts for the Changes in U.S. Fiscal Policy Transmission?
Bilbiie, Florin Ovidiu
;
Meier, André
;
Müller, Gernot J.
-
2021
Using vector autoregressions on U.S. time series for 1957-1979 and 1983-2004, we find government spending shocks to have stronger effects on output, consumption, and wages in the earlier sample. We try to account for this observation within a DSGE model featuring price rigidities and limited...
Persistent link: https://www.econbiz.de/10013318046
Saved in:
2
Mr. Keynes meets the classics : government spending and the real exchange rate
Born, Benjamin
;
D'Ascanio, Francesco
;
Müller, Gernot J.
; …
-
2021
In economies with fixed exchange rates, the adjustment to government spending shocks is asymmetric. A fiscal expansion appreciates the real exchange rate but does not stimulate output. A fiscal contraction does not alter the exchange rate, but lowers output. We develop these insights in a...
Persistent link: https://www.econbiz.de/10012544252
Saved in:
3
Big G
Cox, Lydia
;
Müller, Gernot J.
;
Pasten, Ernesto
; …
-
2020
expenditures
its composition is biased. Third, procurement contracts are short-lived. Fourth, idiosyncratic variation dominates the …
Persistent link: https://www.econbiz.de/10012388109
Saved in:
4
The worst of both worlds : fiscal policy and fixed exchange rates
Born, Benjamin
;
D'Ascanio, Francesco
;
Müller, Gernot J.
; …
-
2019
Under fixed exchange rates, fiscal policy is an effective tool. According to classical views because it impacts the real exchange rate, according to Keynesian views because it impacts output. Both views have merit because the effects of government spending are asymmetric. A spending cut lowers...
Persistent link: https://www.econbiz.de/10012118599
Saved in:
5
The worst of both worlds : fiscal policy and fixed exchange rates
Born, Benjamin
;
Ascanio, Francesco D
;
Müller, Gernot J.
; …
-
2019
Persistent link: https://www.econbiz.de/10012200419
Saved in:
6
The worst of both worlds : fiscal policy and fixed exchange rates
Born, Benjamin
;
Ascanio, Francesco D
;
Müller, Gernot J.
; …
-
2019
Persistent link: https://www.econbiz.de/10012208730
Saved in:
7
What determines government spending multipliers?
Corsetti, Giancarlo
;
Meier, André
;
Müller, Gernot J.
-
2012
This paper studies how the effects of government spending vary with the economic environment. Using a panel of OECD countries, we identify fiscal shocks as residuals from an estimated spending rule and trace their macroeconomic impact under different conditions regarding the exchange rate...
Persistent link: https://www.econbiz.de/10009618568
Saved in:
8
Floats, pegs and the transmission of fiscal policy
Corsetti, Giancarlo
;
Küster, Keith
;
Müller, Gernot J.
-
2011
Persistent link: https://www.econbiz.de/10010196699
Saved in:
9
Floats, Pegs and the Transmission of Fiscal Policy
Corsetti, Giancarlo
-
2011
According to conventional wisdom, fiscal policy is more effective under a fixed than under a flexible exchange rate regime. In this paper the authors reconsider the transmission of shocks to government spending across these regimes within a standard New Keynesian model of a small open economy....
Persistent link: https://www.econbiz.de/10013129281
Saved in:
10
Debt Consolidation and Fiscal Stabilization of Deep Recessions
Corsetti, Giancarlo
;
Küster, Keith
;
Meier, André
-
2010
Persistent link: https://www.econbiz.de/10003960108
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